Lactates Market to reach USD 1.1 billion by 2032

Research Reports

Posted on February 2, 2022

Lactates Market analysis shows that according to Future Market Insights the Lactates market is estimated to be valued at USD 653.1 million in 2022 and is projected to reach USD 1.1 billion by 2032, recording a CAGR of 3.7%, in terms of value.

Lactic acid is a natural substance. It is white and water-soluble in its solid-state. It is colourless in its liquid condition. It can be found in both natural and synthetic Lactate forms. Lactic acid is classed as an alpha-hydroxy acid since it has a hydroxyl group next to the carboxyl group (AHA). It participates in a variety of metabolic processes in the form of lactate, its conjugate base.

There are different products of Lactates which has their own drive in the market. Growing worries about agricultural productivity degradation have prompted governments to boost the use of magnesium lactate to combat malnutrition and famine. Ammonium Lactate is used in making bread and yoghurt. It can also help with the aid of some skin disorders. Potassium lactate is used as a preservative, flavouring agent, pH regulator, and many other things. It’s widely employed in a variety of end-user industries, including Pharmaceutical industry , personal and skin-care industry, food and beverage industry, and so on.

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“Manufacturers in the global sodium lactate market are focusing on tapping into personal care and food & beverage industry. However, application in food and nutrition supplement is expected to remain the highest,” says the FMI analyst.

Key Takeaways

The U.S. is expected to hold 90.8% of sales in North America. This dominance is largely attributed to the presence of mature pharma, personal care, and food & beverage industries.
Germany will account for 28.8% of demand in Europe in 2021 backed by the presence of prominent players operating in the market.
The demand in Japan is expected to rise at 6.6% CAGR during forecast period driven by surging demand from the country’s thriving pharmaceutical sector.
India is expected to account for 58.6% of sales in South Asia in 2021 as the country is exhibiting increasing pharmaceutical and government spending on research and development activities.
The demand for liquid form of sodium lactate is expected to increase at a CAGR of 7.9% during the forecast period.

Key Restrains

The global sodium lactate market in developing countries is highly dependent on imports. This however prove to be a deal breaker, especially as logistics stood disrupted amidst COVID-19 outbreak.
Despite high production capacity of the chemical industry, there is a significant gap between demand and production in countries such as the U.S., Argentina, Brazil, India, and Mexico. This imbalance results in decline of sales in the global market.

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Competitive Landscape

Some of the leading market players are focusing on expanding their geographical foothold by adopting strategies such as merger, acquisition, expansions, and collaborations.

For instance, Biosynth Carbosynth expanded its laboratories in the U.K. in September 2020. These modern laboratories were added to the already existing synthetic labs in China, the U.K., Switzerland, and Slovakia.

Similarly, Biosynth Carbosynth opened a new sales office in South Korea

Some of the key players operating in the global sodium lactate market as profiled by FMI are:

Jungbunzlauer Suisse AG
Galactic
Finetech Industry Limited
Biosynth Carbosynth
Finoric LLC
abcr GmbH
Glentham Life Sciences Ltd.
TNJ Chemical Industry Co., Ltd.

More Insights on the Sodium Lactate Market

FMI provides an unbiased analysis of the demand for sodium lactate market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges compelling insights on the global sodium lactate market on the basis of:

Product Form

Powder
Liquid

Application

Beverages
Food & Nutritional Supplements
Clinical Nutrition
Dialyses Solutions
Personal Care & Cosmetics
Cleaners & Detergents

End-User

Food & Beverages Industry
Cosmetic Industry
Pharmaceuticals Manufacturers
Medical Devices Manufacturers
Others

Region

North America
Latin America
Europe
East Asia
South Asia & Pacific
The Middle East and Africa (MEA)

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Key Questions Covered in the Global Sodium Lactate Market Report

The report offers detailed insights into sodium lactate market demand outlook for 2021-2031
The market study also highlights projected sales growth for sodium lactate market between 2021 and 2031
Sodium lactate survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
Sodium lactate share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Related Reports:

Modified Starch Market – The global modified starch market size is estimated to be valued at USD 12.6 billion in 2022 and projected to reach USD 21.2 billion by 2032, recording a CAGR of 5.6%.

L-carnitine Supplements Market – The global L-carnitine Supplements market is projected to surpass US$ 280 million by the end of 2032, in terms of revenue, growing at CAGR of 5.2 % during the forecast period (2022 to 2032).

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